sevenfourate
Devotee of OCD
- Location
- Lowestoft, Suffolk
Just become a parent ?
A shared Bank account comes as standard.
A shared Bank account comes as standard.
Bank Account for Multiple Users??
- Thread starter PaulSB
- Start date
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bikingdad90
Guru
Would you consider a serviced accommodation arrangement whereby all the bills are taken care of by the landlord and then it is recovered by them via a service or amenity charge in addition to the rent?
OP
OP
PaulSB
Squire
- Location
- Chorley, Lancashire
Well thank you all. I've just re-read each post and have a list of 13 points or ideas I hadn't considered.
We have a meeting with the house manager and other parents on Wednesday. I'm hoping to have some good info for everyone by then. The two major hurdles we face are this. One family we only know casually as their son has been at the house for less than a year. The other parent is widowed, has other major family issues to deal with and after signing over financial responsibility for her son to the care provider more than 20 years ago suddenly finds it all dumped back in her lap.
The care provider used to act as appointee for the clients but is now relinquishing that role as well. This means the lady concerned, in her early 70s, now has to begin negotiating our complex social care funding.
I've always refused to relinquish control of my son's finances to anyone outside the family.
I'll report back when we have a solution. Don't hold your collective breath.
We have a meeting with the house manager and other parents on Wednesday. I'm hoping to have some good info for everyone by then. The two major hurdles we face are this. One family we only know casually as their son has been at the house for less than a year. The other parent is widowed, has other major family issues to deal with and after signing over financial responsibility for her son to the care provider more than 20 years ago suddenly finds it all dumped back in her lap.
The care provider used to act as appointee for the clients but is now relinquishing that role as well. This means the lady concerned, in her early 70s, now has to begin negotiating our complex social care funding.
I've always refused to relinquish control of my son's finances to anyone outside the family.
I'll report back when we have a solution. Don't hold your collective breath.
Make sure that your care manager from social services is aware of the meeting and is invited. I don't see how the care provider can pass back responsibility to the elderly parent. There could be a scenario where the client has no parents, so there must be an alternative option.
I am 74 and my OH is 70 and we still act as the appointees. There are issues that we need to resolve for the future, but we are fortunate that we have two other daughters and a son, who are all capable of taking over.
One consideration for the OP about such a shared account is security. I have no idea about who would be involved, etc. but given how common SCAM attempts have become these days, whilst with your own accounts you can take responsibility for your money, when a number of others also have full access to the account the possibility of one of them becoming victim to a SCAM attempt become much higher. OP knows the other parties involved and thus have a feeling for the risk.
Multiple people with full access must increase the risks of a SCAM getting all the money in the account (the degree of risk increase depends on those individuals). But another aspect is looking at the "risk vs consequences" ie put £100,000 in the account and whilst the risk might be low the concequences are very high whereas maintain an account balance of 10p and whatever the risk, should one member of the group be SCAMed then you wont be losing much (low consequences).
Only OP can form an opinion of the risks from the other full access signatories and have a feeling for the minimum balance needed for the scheme to work. But I think these are important and need considering.
If OP considers risk and/or consequences high maybe there are alternatives that could limit the risk?
Ian
Multiple people with full access must increase the risks of a SCAM getting all the money in the account (the degree of risk increase depends on those individuals). But another aspect is looking at the "risk vs consequences" ie put £100,000 in the account and whilst the risk might be low the concequences are very high whereas maintain an account balance of 10p and whatever the risk, should one member of the group be SCAMed then you wont be losing much (low consequences).
Only OP can form an opinion of the risks from the other full access signatories and have a feeling for the minimum balance needed for the scheme to work. But I think these are important and need considering.
If OP considers risk and/or consequences high maybe there are alternatives that could limit the risk?
Ian
craigwend
Grimpeur des terrains plats
OP
OP
PaulSB
Squire
- Location
- Chorley, Lancashire
That looks interesting. Thank you.
OP
OP
PaulSB
Squire
- Location
- Chorley, Lancashire
I'm not aware of there being a care manager from social services. May I ask why inviting him/her is important? This is about how household bills are paid. I wouldn't expect social services to be very interested in this.
The care provider has advised current, new, best practice is care providers should not have any financial responsibility for clients. This the basis for stepping back from being the appointee and managing household accounts.
As an alternative to parents, family etc. the care provider is directing relatives, usually parents, towards a company, name escapes me, who will act as the appointee. Unsurprisingly there is a monthly fee involved.
As an aside I regard companies offering a service such as this as leeches, preying on the disadvantaged.
Fortunately I have two sons who can become appointee when needed. My wife has terminal cancer and one realisation I've had is I need to get everything relating to my son's care documented. Too much is in our heads.
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In our situation, care managers have always been involved. Ours gets 2:1 support, 24/7, for when she is in the supported living house. Social services pay for the bulk of the cost of the carers and our daughter contributes towards it. The care manager will have come across many scenarios and have knowledge of options.
Good luck at the meeting.
OP
OP
PaulSB
Squire
- Location
- Chorley, Lancashire
